3535 N 16th St Philadelphia, PA 19140
Tioga Neighborhood
--
Bed
--
Bath
2,940
Sq Ft
1,880
Sq Ft Lot
Highlights
- Straight Thru Architecture
- No HOA
- Central Heating and Cooling System
About This Home
As of July 2019Fully-leased modular construction multifamily buildings on the booming North Broad Corridor at Temple University Hospital. Three units in total with 6 beds. All units are 2bd x 2ba and the lower level units include full basements which can be used for additional rental income. Modern interiors and appliances, high ceilings, and energy efficient building systems. Dedicated building management and leasing. Built in 2017 as new construction using efficient and dynamic modular construction techniques. 8 years left on tax abatement. Extremely low operating expenses and strong rental appreciation in this growing submarket located just a 5-minute walk from SEPTA Broad St subway connecting directly into Center City Philadelphia. Located in Qualified Opportunity Zone with millions of SF in new development planned and in active stages from some of the most notable real estate developers in the city and the USA. Extremely strong rental demand from world-class employer TU Hospital with over 5500 high skilled/paid employees in need of high quality rental housing. Tenants are waitlisted to fill these buildings. Pro forma investment approach calls for 7% rental increases annually which boosts the NOI from around 43K to 50K, or from 6.9% to 7.5%. Less than 1mile from Amtrak's North Philadelphia Station redevelopment which calls for 1.7M SF of new homes, research labs, and offices. Additional projects include the redevelopment of the historic Uptown Theater and Beury Building and hundreds of units in urban infill new development. Available immediately. Tenant-occupied properties. 24hr notice required to tour.
Last Buyer's Agent
II Hwan (Steven) Kim, ABR, CNHS, MCNE
BHHS Fox & Roach-Blue Bell License #AB066345
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $735
Year Built
- Built in 2017
Lot Details
- 1,880 Sq Ft Lot
- Lot Dimensions are 16.00 x 117.52
Home Design
- 2,940 Sq Ft Home
- Straight Thru Architecture
- Masonry
Utilities
- Central Heating and Cooling System
- Cooling System Utilizes Natural Gas
- Natural Gas Water Heater
Additional Features
- Basement
Listing and Financial Details
- Tax Lot 205
- Assessor Parcel Number 112199910
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- Operating Expense $4,278
- Net Operating Income $43,722
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 19, 2019
Closed on
Jul 11, 2019
Sold by
Thomas Lacworte April and Thomas Lacworte
Bought by
Hny Properties Llc
Seller's Agent
Ryan McManus
Keller Williams Liberty Place
Buyer's Agent
II Hwan (Steven) Kim, ABR, CNHS, MCNE
BHHS Fox & Roach-Blue Bell
List Price
$630,000
Sold Price
$575,000
Premium/Discount to List
-$55,000
-8.73%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.45%
Purchase Details
Closed on
Nov 2, 2016
Sold by
Lacorte April and Lacorte Thomas
Bought by
Lacorte April and Lacorte Thomas
Similar Homes in Philadelphia, PA
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $1,150,000 | Trident Land Transfer Commpa | |
| Deed | -- | None Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/12/2025 08/12/25 | Price Changed | $662,500 | -3.6% | $225 / Sq Ft |
| 06/20/2025 06/20/25 | For Sale | $687,500 | +19.6% | $234 / Sq Ft |
| 07/11/2019 07/11/19 | Sold | $575,000 | -8.7% | $196 / Sq Ft |
| 05/13/2019 05/13/19 | For Sale | $630,000 | 0.0% | $214 / Sq Ft |
| 05/10/2019 05/10/19 | Pending | -- | -- | -- |
| 03/19/2019 03/19/19 | For Sale | $630,000 | -- | $214 / Sq Ft |
Source: Bright MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,891 | $670,000 | $134,000 | $536,000 |
| 2024 | $2,891 | $670,000 | $134,000 | $536,000 |
| 2023 | $2,891 | $1,032,600 | $206,520 | $826,080 |
| 2022 | $770 | $206,520 | $206,520 | $0 |
| 2021 | $770 | $0 | $0 | $0 |
| 2020 | $770 | $0 | $0 | $0 |
| 2019 | $735 | $0 | $0 | $0 |
| 2018 | $735 | $0 | $0 | $0 |
| 2017 | $286 | $0 | $0 | $0 |
| 2016 | $272 | $0 | $0 | $0 |
| 2015 | $260 | $0 | $0 | $0 |
| 2014 | -- | $19,400 | $19,400 | $0 |
| 2012 | -- | $1,728 | $1,728 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Martin Rodriguez
Seller's Agent in 2025
Martin Rodriguez
KW Empower
(609) 226-9287
2 in this area
91 Total Sales
-
Ryan McManus
Seller's Agent in 2019
Ryan McManus
Keller Williams Liberty Place
(267) 838-5265
147 Total Sales
-
II Hwan (Steven) Kim, ABR, CNHS, MCNE
Buyer's Agent in 2019
II Hwan (Steven) Kim, ABR, CNHS, MCNE
BHHS Fox & Roach
(215) 680-1015
134 Total Sales
Map
Source: Bright MLS
MLS Number: PAPH728370
APN: 112199910
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